HJR57 - Proposing a constitutional amendment dedicating certain general revenue that would otherwise be transferred to the economic stabilization fund to reducing school district maintenance and operations ad valorem taxes.

  89R2895 KJE-D     By: Cain H.J.R. No. 57       A JOINT RESOLUTION   proposing a constitutional amendment dedicating certain general   revenue that would otherwise be transferred to the economic   stabilization fund to reducing school district maintenance and   operations ad valorem taxes.          BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:          SECTION 1.  Section 49-g, Article III, Texas Constitution,   is amended by adding Subsections (g-1) and (g-2) and amending   Subsection (h) to read as follows:           (g-1)     When the comptroller of public accounts acts to   prevent the amount in the economic stabilization fund from   exceeding the limit in effect for a biennium under Subsection (g) of   this section by reducing an amount transferred to the fund from   general revenue as provided by Subsection (b) or (c) of this section   or by crediting to general revenue interest that is due to the fund   as provided by Subsection (i) of this section, the comptroller   shall:                 (1)     determine an amount of general revenue equal to   the amount by which the balance of general revenue is increased by   the reduction of the transfer from general revenue or the crediting   of interest to general revenue; and                 (2)     transfer the amount determined under Subdivision   (1) of this subsection to the property tax relief fund or a   successor fund or account the primary purpose of which is to reduce   school district maintenance and operations ad valorem taxes.           (g-2)     Money transferred to the credit of the property tax   relief fund or a successor fund or account under Subsection (g-1) of   this section may be appropriated only for the purpose of reducing   school district maintenance and operations ad valorem taxes as   provided by general law.          (h)  In preparing an estimate of anticipated revenues for a   succeeding biennium as required by Section 49a, Article III,   [ Section 49a, ] of this constitution, the comptroller shall estimate   the amount of the transfers that will be made under Subsections (b),   (d), [ and ] (e) , and (g-1) of this section.  The comptroller shall   deduct that amount from the estimate of anticipated revenues as if   the transfers were made on August 31 of that fiscal year.          SECTION 2.  The following temporary provision is added to   the Texas Constitution:           TEMPORARY PROVISION. (a) This temporary provision applies   to the constitutional amendment proposed by the 89th Legislature,   Regular Session, 2025, dedicating certain general revenue that   would otherwise be transferred to the economic stabilization fund   to reducing school district maintenance and operations ad valorem   taxes.           (b)     The amendments to Section 49-g, Article III, of this   constitution take effect January 1, 2026.           (c)  This temporary provision expires January 1, 2027.          SECTION 3.  This proposed constitutional amendment shall be   submitted to the voters at an election to be held November 4, 2025.     The ballot shall be printed to permit voting for or against the   proposition: "The constitutional amendment dedicating certain   general revenue that would otherwise be transferred to the economic   stabilization fund to reducing school district maintenance and   operations ad valorem taxes."